The following condensed information is reported by Sporting Collectibles. 2021 2020 Income Statement Information Sales revenue $ 10,024,000 $ 8,300,000 Cost of goods sold 6,565,720 5,800,000 Net income 354,420 238,000 Balance Sheet Information Current assets $ 1,590,000 $ 1,490,000 Long-term assets 2,190,000 1,890,000 Total assets $ 3,780,000 $ 3,380,000 Current liabilities $ 1,190,000 $ 890,000 Long-term liabilities 1,510,000 1,510,000 Common stock 790,000 790,000 Retained earnings 290,000 190,000 Total liabilities and stockholders' equity $ 3,780,000 $ 3,380,000